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Thursday, March 21, 2013

Bundesbank - Household net wealth

According to a Bundesbank study, the median net household wealth in Germany was € 51,400 in the Year 2010. Which when compared to other industrial nations this is rather low. The US had a family net worth of about € 59,000 ($ 77,300/1.3), after plummeting over 40 % compared to before the crisis.According to the Bundesbank the German number compares to other Euro-nations as follows:

Household median net wort

Euro

France

113,500

Germany

51,400

Italy

163,900

Spain

178,300

Austria

76,400

Western Germany

78,900

Eastern Germany

21,400

Some of that difference might be due to different statistics. The low value for eastern Germany can in large parts be attributed to the "Wiedervereinigung" and the main source of household wealth is real estate which is still very cheap in some parts of eastern Germany.

Additionally, the average net household wealth Spain (€ 285,800) is "only" 1.5 times as large as that of Germany (€ 195,000). An Italian number is not available.